Good morning. Here is the latest news, research and market analysis that sustainable technology partners need to know for Thurday, February 16, 2023.
1. Partnership - Sustainable Buildings: Power management company Eaton and IES have partnered to assist customers with sustainable business strategies. The effort involves digital twins technology -- which will allow clientele to explore the best options to make buildings more sustainable, the two companies said.
2. Partnership - Energy Grid Modernization: Amazon Web Services (AWS) and GE Digital are partnering to help utilities accelerate power grid modernization projects. The effort involves GridOS -- a new grid operating software platform from GE Digital.
3. Talent - Green Data Centers: ECL, which offers data centers as a service, has named iMasons founder and Cato Digital CEO Dean Nelson to its board of directors. ECL develops data center technology that uses green hydrogen as its primary power source.
4. Research - Green IT Services Market Forecast: The market for green IT services will reach $34.83 billion by 2030 -- up from $12.46 billion in 2021, according to Coherent Market Insights. That's a 12.4% compound annual growth rate (CAGR) of 12.4%.
5. Research - CFOs Priorities: Enhanced ESG (environmental, social and governance) reporting ranks among the top six priorities for CFOs, according to a survey conducted by FTI Consulting and CFO Dive.
6. Research - Regulatory Pressures: ESG and Sustainable Finance regulations are putting the most pressure on financial services firms, according to KPMG UK's latest Regulatory Barometer.
7. Big Tech - Cloud Sustainability: Cloud CRM software provider Salesforce plans to purchase 280,000 megawatt hours (MWh) of renewable energy certificates from small, distributed energy projects over the next eight years. The effort involves a contract with Powertrust, an aggregator of high-impact renewables around the world, and will leverage Distributed Renewable Energy Certificates (D-RECs) – a financial mechanism that enables organizations to accelerate deployment of capital for small-scale, distributed renewable projects – to drive this new clean energy supply, Salesforce said.
8. M&A: Private equity firm Inflexion is acquiring a majority stake in dss+, a provider of operations management consulting services with a purpose of saving lives and creating a sustainable future.
9. M&A: ABO-Group has acquired SEGED, an environmental and sustainable development agency in France. This is ABO-Group's second acquisition in recent months. The other deal involved buying Dynaopt in December 2022.
10. Funding - Sustainable Procurement: Kloopify, which develops a sustainable procurement platform to help customers reduce emissions from purchased goods and services, has raised $1.5 million in seed funding. Black Tech Nation Ventures, a Pittsburgh-based venture capital fund, led the round.
11. Decarbonization Project: Amazon is funding a commercial-scale seaweed farm located between offshore wind turbines near the Netherlands. The project is designed researched seaweed's potential to capture, remove and store carbon dioxide (CO2) from the earth's atmosphere, Amazon said.
12. Sustainability Software Options: Sustaira has released an evaluation framework for ESG & Sustainability Software.
13. Supply Chain Sustainability: Sweep, which develops a carbon management and reduction platform, has launched Sweep for Supply Chain. The solution leverages corporate-supplier collaboration to get a "complete view of indirect Scope 3 emissions and anticipate supply-chain-related risks and opportunities," the company said.
14. How to Choose the Right ESG Framework: Some detailed tips are here.
15. Renewable Energy Penalties: India will exclude renewable power companies from government contracts for between three and five years if they do not meet project completion deadlines, Reuters reported.
16. China Solar Power: China is expected to add 95 to 120 gigawatts (GW) of solar power in 2023, or as much as 30%, according to China Photovoltaic Industry Association (CPIA), Reuters reported.
17. Net Zero Goals: Modern Aviation said it is committed to achieving carbon neutrality for Scope 1 and Scope 2 emissions by 2050. Also, AXIS Capital Holdings said it is commitment to a 50% absolute reduction of Scope 1 and 2 greenhouse gas (GHG) emissions by 2030 across its global operations.
18. Schneider Electric Sustainability Progress Report: The latest details are here.
Got news to share? Email the details to Sustainable Technology Partner Editorial Director Joe Panettieri.